Novo Nordisk A/S (NYSE:NVO) Trading Up 1.5%

Shares of Novo Nordisk A/S (NYSE:NVO) shot up 1.5% during trading on Thursday . The company traded as high as $136.55 and last traded at $136.44. 555,271 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 4,364,983 shares. The stock had previously closed at $134.48.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on NVO shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research report on Monday, August 19th. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 19th. BMO Capital Markets dropped their target price on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. The Goldman Sachs Group assumed coverage on Novo Nordisk A/S in a report on Thursday, May 30th. They issued a “buy” rating and a $156.00 price target for the company. Finally, Argus lifted their price objective on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, June 10th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $145.17.

Novo Nordisk A/S Stock Up 2.1 %

The firm has a fifty day simple moving average of $136.01 and a 200-day simple moving average of $131.88. The company has a market capitalization of $616.27 billion, a PE ratio of 47.34, a P/E/G ratio of 1.33 and a beta of 0.41. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.50 and a current ratio of 0.70.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). Novo Nordisk A/S had a return on equity of 91.70% and a net margin of 36.56%. The company had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.91 billion. Equities research analysts anticipate that Novo Nordisk A/S will post 3.38 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were given a dividend of $0.5126 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a dividend yield of 0.7%. Novo Nordisk A/S’s payout ratio is 24.83%.

Institutional Investors Weigh In On Novo Nordisk A/S

A number of institutional investors have recently made changes to their positions in NVO. Folketrygdfondet grew its position in Novo Nordisk A/S by 1.4% in the 1st quarter. Folketrygdfondet now owns 8,756,034 shares of the company’s stock worth $1,124,275,000 after purchasing an additional 124,770 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Novo Nordisk A/S by 10.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock valued at $1,102,857,000 after acquiring an additional 823,036 shares during the period. Capital International Investors increased its position in Novo Nordisk A/S by 22.3% in the 4th quarter. Capital International Investors now owns 7,114,931 shares of the company’s stock valued at $736,121,000 after acquiring an additional 1,297,536 shares during the period. Envestnet Asset Management Inc. raised its stake in Novo Nordisk A/S by 1.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 4,254,180 shares of the company’s stock valued at $607,242,000 after acquiring an additional 58,935 shares in the last quarter. Finally, GQG Partners LLC grew its stake in shares of Novo Nordisk A/S by 654.6% in the first quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock worth $466,485,000 after purchasing an additional 3,151,584 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Company Profile

Novo Nordisk A/S, together with its subsidiaries, engages in the research and development, manufacture, and distribution of pharmaceutical products in Europe, the Middle East, Africa, Mainland China, Hong Kong, Taiwan, North America, and internationally. It operates in two segments, Diabetes and Obesity Care, and Rare Disease.